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if you were advising president obama, what would you do right now? what would you advise? >> well, he didn't call me, but if he had -- >> really? >> surprise. >> i would tell -- to be honest, i would tell him to take a few lessons from his defeated challenger. what i would do is i would focus primarily on four things. i would say, one, we need to get a better tax code, a much more pro-growth, pro-markets, pro-jobs tax code. we need to encourage economic trade with other countries. i mean really significant economic trade. one of the things i will give president obama credit for is he was able to get through the three free trade agreements that were negotiated by president bush at the end of his term and did not go through congress until president obama did that later on in his term. that's commendable. i'd like to see a lot more of that. the third would be a much more cautious dwrie regulation, the kind of regulation that actually works. more of a cost benefit analysis approach. the fourth is spending control. we jumped from 21% of gdp to 25% of gdp in spending in one year
if you were advising president obama, what would you do right now? what would you advise? >> well, he didn't call me, but if he had -- >> really? >> surprise. >> i would tell -- to be honest, i would tell him to take a few lessons from his defeated challenger. what i would do is i would focus primarily on four things. i would say, one, we need to get a better tax code, a much more pro-growth, pro-markets, pro-jobs tax code. we need to encourage economic trade with other...
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Dec 13, 2012
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market closing off the lows of the afternoon after news that president obama and speaker boehner are set for another meeting today on the fiscal cliff, one hour from right now. take a look at how the markets are settling out tonight. as soon as we got that announcement the market went from down 90 to down 50 and it's creeped lower since with a decline on the session of 80 points, finishing at 13,167. a decline of three-quarters of 1% at 2992 on the nasdaq and the s&p gave up 9 at 1419 and the federal reserve and the fiscal cliff weighed in on this market. how do you position yourself? joining me to discuss that our guests. gentlemen, nice to have you on the program. thanks so much for joining us. let me kick this off with you in terms of allocating capital right here in the face of so much uncertainty, fiscal cliff, federal reserve. what is going to be the dominant force in terms of moving money? >> i think you don't fight the fed. i think what happened yesterday is a little bit more of the same we had this year which is the fed is going to try to keep interest rates low until it mov
market closing off the lows of the afternoon after news that president obama and speaker boehner are set for another meeting today on the fiscal cliff, one hour from right now. take a look at how the markets are settling out tonight. as soon as we got that announcement the market went from down 90 to down 50 and it's creeped lower since with a decline on the session of 80 points, finishing at 13,167. a decline of three-quarters of 1% at 2992 on the nasdaq and the s&p gave up 9 at 1419 and...
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Dec 13, 2012
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this is the third element of obama care that even democrats are peeling away from. they repealed a 1099 withholding piece of the law that was totally, totally destructive for businesses and really very onerous and they've gotten rid of the class act. the administration itself has pretty much thrown the class act in the garbage. the question is why are they all of a sudden abandoning various programs? >> let me just get at this job killing idea. when you have a law that brings 30 million people into the health care marketplace, they now have insurance, these are the folks who are going to be using the medical devices, who are going to be using hospitals, insurers. that's why those sectors are benefiting and that's why the law asks them to contribute. i think it's fair, especially since it's narrow lee tailored, it doesn't hit the over-the-counter medical device ps. >> you know what's so great, igor, guy benson is right. you are to the left of elizabeth warren and al franken. i never thought such a thing is possible. i'm proud of you, igor. this is great stuff. >> he
this is the third element of obama care that even democrats are peeling away from. they repealed a 1099 withholding piece of the law that was totally, totally destructive for businesses and really very onerous and they've gotten rid of the class act. the administration itself has pretty much thrown the class act in the garbage. the question is why are they all of a sudden abandoning various programs? >> let me just get at this job killing idea. when you have a law that brings 30 million...
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this is not really boehner negotiating with obama or the democrats. and i think that's the way it's going to continue to be. so i really distrust anything that any of these guys are saying at a podium because i think there is a much deeper-level conversation going on. and again, if this is just based on what i read and hear, i don't have any other information, but, you know, i don't get the sense that things are quite so dire or quite so close at any given time. i think it's just really the media trying to pick up on clues and hints. and that's really hard to do. >> maybe the market itself is trying to pick up on clues and hints as well. we're in negative territory across the board. it's not like we've gone off another cliff, if you will, in the stock market, but we're certainly not where many thought we would be or even should be after what the fed chairman had to say yesterday in the more accommodative policy that's continuing to come from the central bank. >> there's two conversations. number one first is the fiscal cliff. and i think the market it
this is not really boehner negotiating with obama or the democrats. and i think that's the way it's going to continue to be. so i really distrust anything that any of these guys are saying at a podium because i think there is a much deeper-level conversation going on. and again, if this is just based on what i read and hear, i don't have any other information, but, you know, i don't get the sense that things are quite so dire or quite so close at any given time. i think it's just really the...
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Dec 5, 2012
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obama's big meeting with some of those ceos. john? >> the other way the ceos are in the middle of this is the president appeared before the business roundtable today as part of his effort to continue rounding up support from various constituencies for what he calls a balanced approach. one of the things he pressed was a priority that the head of the business roundtable, john eng r engler, has suggested which is a longer term fix to the debt ceiling problem. remember that it was a catastrophic standoff in mid 2011 that caused the downgrade in u.s. credit. president said he's simply not going to negotiate in the negotiating process that results in the same kind of stand-off. here is the president. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation? which, by the way, we have never done in our history until we did it last year. i will not play that game because we've got to break that habit before it starts. >> so w
obama's big meeting with some of those ceos. john? >> the other way the ceos are in the middle of this is the president appeared before the business roundtable today as part of his effort to continue rounding up support from various constituencies for what he calls a balanced approach. one of the things he pressed was a priority that the head of the business roundtable, john eng r engler, has suggested which is a longer term fix to the debt ceiling problem. remember that it was a...
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. >> wonder what boehner and obama talked about on the phone. i think it went something like this. your mother! no, your mother. no, your mother. and then it went back and forth. your mother to infinity. >> no, i think what happened is we realize that there's been an awful lot of theatrics. >> you don't think they said your mother? >> no. >> you don't think they hurled insults at each other? >> no. >> actually, boehner was just a dial tone. you said i'm supposed to do what to myself? no, that's not boehner. >> on the economic front, i guess there are things going on. more employment data on the way. tomorrow the big jobs report and then there was the issue of the fiscal cliff. 11,000 in citigroup. i wonder if we start seeing things before next year. people are not hiring people. >> and we've talked a lot about this, ceos have already had to make their plans known to their boards. so it's had its impact. >> getner says the obama administration is only too willing to go over the qulif. cliff. do they mean marginal rates, or just rates. >> that's what's going to be worked out, the las
. >> wonder what boehner and obama talked about on the phone. i think it went something like this. your mother! no, your mother. no, your mother. and then it went back and forth. your mother to infinity. >> no, i think what happened is we realize that there's been an awful lot of theatrics. >> you don't think they said your mother? >> no. >> you don't think they hurled insults at each other? >> no. >> actually, boehner was just a dial tone. you said i'm...
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president obama and house speaker john boehner spoke by phone on tuesday, exchanging new proposals. the president gave boehner a revised offer on monday, reducing his demand for new tax revenue from $1.6 trillion to $1.4 trillion over ten years. boehner responded with a plan that largely sticks to his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal. that hasn't been done before. in an exclusive interview with barbara walters of abc news, president obama says he still expects a deal before the end of the year. >> i remain optimistic that there are enough people of goodwill in this town that recognize our economy will be much better off. american families will be much better off if we get this done. the most important thing we can do is make sure that middle-class taxes do not go up on january 1. and i'm pretty confident that republicans would not hold middle-class taxes hostage to try to protect tax cuts for high-income individuals. >> prediction -- are you going to be able to raise taxes,
president obama and house speaker john boehner spoke by phone on tuesday, exchanging new proposals. the president gave boehner a revised offer on monday, reducing his demand for new tax revenue from $1.6 trillion to $1.4 trillion over ten years. boehner responded with a plan that largely sticks to his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal. that hasn't been done before. in an exclusive...
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some other surveys have shown president obama with a stronger hand. we looked democrats in congress together with the president, any time you lump congress in a question it drags down the number. finally if you look at the intense partisan split on outlooks for the economy, this is something that is relevant as we try to measure the pessimism or optimism of american voters, we see now an even split among those who say the economy will get better in the next year versus those who say it will get worse but there's a tremendous partisan split there. republicans, a six in ten republicans say the economy will get worse. it's the loser's lament after the election that they become more pessimistic, democrats overwhelmingly optimistic, independents interestingly agree more with the republicans, they expect the economy to get worse and that's one of the factors weighing down on public opinion as we head toward the last three weeks of the year's negotiations to avoid the fiscal cliff, carl. >> times a-wastin. with the deadline inching closer what needs to be do
some other surveys have shown president obama with a stronger hand. we looked democrats in congress together with the president, any time you lump congress in a question it drags down the number. finally if you look at the intense partisan split on outlooks for the economy, this is something that is relevant as we try to measure the pessimism or optimism of american voters, we see now an even split among those who say the economy will get better in the next year versus those who say it will get...
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president obama twice before has made declarative statements about what he's not willing to do. and frankly, all we've heard from the white house is what they're not willing to do. so the president has signed the it tension of these rates in the past. i think the underreported story in all of this drama are senate democrats that are wringing their hands and avoiding eye contact. >> mcconnell would have produce the brought it up not just as an amendment. >> we're too busy today, forget it. >> they can't pass it in their own house. >> so here is the question. the operative question is does this administration really want to take to us $22 trillion? is that really where they want to go? because that's the pathway. and if they do, aren't we better to deal with this right now? this doesn't get any better the longer we wait. when you have the speaker saying we're willing to move, our movement is to put revenue on the table -- >> are you saying a bucket of crazy is better than the long term implications? >> that's what the country is dealing with. neither are things you want to embrace
president obama twice before has made declarative statements about what he's not willing to do. and frankly, all we've heard from the white house is what they're not willing to do. so the president has signed the it tension of these rates in the past. i think the underreported story in all of this drama are senate democrats that are wringing their hands and avoiding eye contact. >> mcconnell would have produce the brought it up not just as an amendment. >> we're too busy today,...
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obama personally moved it out two years. because he didn't want to raise taxes and damage the economy. because he said the economy was weak. the economy is not strong now. so the argument to raise taxes now is not any better than it was two years ago. i think there's a real danger that we're going to end up with some damaging tax increases and nothing to show for it. >> the economy may or may not be stronger but we are also staring down a situation where we have seen a $5 trillion deficit that's built up over the last four years. there are some republicans who think, yes, we are going to have to do something, spending cuts is the biggest part of that, but they also think that you're going to have to raise revenue. again, do you think it's a bad thing if they vote with their conscience, even if it's something that goes against your pledge? >> it's not my pledge. it's the pledge that congressmen and senators take to their voters when they got elected. >> sometimes that's changed though. >> okay but raising taxes is always bad
obama personally moved it out two years. because he didn't want to raise taxes and damage the economy. because he said the economy was weak. the economy is not strong now. so the argument to raise taxes now is not any better than it was two years ago. i think there's a real danger that we're going to end up with some damaging tax increases and nothing to show for it. >> the economy may or may not be stronger but we are also staring down a situation where we have seen a $5 trillion deficit...
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add obama care. then add 13.8 in california. and you're a small business, running as an "s" corporation, should you really pay higher than 50% of income into government? that's before any sales tax. that's before paying the cable tax to watch this show. that's before paying the water tax when you take a shower. think about that. and people want to just give more? and hope spending cuts will come at some later today? >> congressman, we hear you. we appreciate it. and thanks for appearing this morning. >> thanks for having mean >> okay. >> when we come back, the headline number on friday's jobs report shows better than expected payroll gains. but there were sceigns of weakns in the participation rate and downward provisions to earlier reports. steve liesman joins us next with more on how economists are reacting to those numbers. >>> tomorrow, "squawk box" is kicking off a special day of fiscal cliff coverage. rise above: mission critical. becky quick and jim cramer, live in washington. 33 special guests, grover norquist, congressm
add obama care. then add 13.8 in california. and you're a small business, running as an "s" corporation, should you really pay higher than 50% of income into government? that's before any sales tax. that's before paying the cable tax to watch this show. that's before paying the water tax when you take a shower. think about that. and people want to just give more? and hope spending cuts will come at some later today? >> congressman, we hear you. we appreciate it. and thanks for...
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. >> of course, last time, speaker boehner did a deal with obama. it was actually rejected by the rest of the gop, and the whole thing fell apart. how significant is it as boehner looks to make room amongst your party for a compromise that he's removed four outspoken cob serve tiffs from the high profile committees in the new congress? >> i don't know if that has much to do with the deal coming up, or threats to force people to make a deal. but he's got a difficult job, no doubt. but i think we all know, as republicans, there's going to be additional revenue, as much as any of us want to resist it. there's going to be additional revenue. the question really is, and the ball is really in the president's court, how much are we going to deal with the spending side. remember, if the president gets everything he wants, that's only about $82 billion in revenue next year. with a deficit of, what, $1.2 trillion. so it really is the spending that matters most right now. and that's what we haven't seen a good plan for. >> sessions also told the "times" this m
. >> of course, last time, speaker boehner did a deal with obama. it was actually rejected by the rest of the gop, and the whole thing fell apart. how significant is it as boehner looks to make room amongst your party for a compromise that he's removed four outspoken cob serve tiffs from the high profile committees in the new congress? >> i don't know if that has much to do with the deal coming up, or threats to force people to make a deal. but he's got a difficult job, no doubt....
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i'm quoting president obama when he was senator obama, bad economic times is not the time to raise taxes on anyone. then why are we raising taxes -- >> the people are for it. we should extend the middle class tax cut and not the -- >> i don't want to be rude, but congressman garrett from new jersey and congressman from new jersey. >> thank you for being here. >> this mission continues. we've got much more from capitol hill. this morning, at 10:00, senator mark warner, and 11:00 a.m. former white house chief of staff, i remember when he was working in the private sector. now it's time for my co-anchor to come in. >> jim, i can't tell if you're having fun down there or not. you tweeted this morning that -- >> you call this fun? >> yeah. >> i'll tell you one thing, guys, listening to that conversation, a few minutes before the opening bell, front page of the "washington post," investors aren't waiting for a deal. they're selling stock, they're trying to sell homes. they're setting up shelters, gifts for taxes. this discussion is not academic by any stretch of the imagination. >> we have to
i'm quoting president obama when he was senator obama, bad economic times is not the time to raise taxes on anyone. then why are we raising taxes -- >> the people are for it. we should extend the middle class tax cut and not the -- >> i don't want to be rude, but congressman garrett from new jersey and congressman from new jersey. >> thank you for being here. >> this mission continues. we've got much more from capitol hill. this morning, at 10:00, senator mark warner,...
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but when you look at the potential solutions, does obama have a mandate? we asked that question. you see very big numbers, 68% says he has a mandate to cut taxes for people who earn less than 250k. 65% say he has a mandate to raise taxes on the wealthy while cutting spending. both elements are important. and when you ask about eliminating the bush tax cuts for people who make more than 250,000, 59% say he has a mandate to do that. so the president clearly has the whip hand in the negotiations, but, of course, members of congress don't respond to national polls. they're fought elected nationally like the president. they're responding to their districtes and that's why we have a different number to solve. >> i saw a number on nightly last night that was sadly low. we try to make something out of it. who would you blame if we go over? and it was 19 to 24. that was weird, wasn't it? that's where -- >> well, i think in some respects -- >> 19 we plame i think the president and 24% would blame -- that's not very -- that's like 24%? that's all you can get for that? you can't even make a
but when you look at the potential solutions, does obama have a mandate? we asked that question. you see very big numbers, 68% says he has a mandate to cut taxes for people who earn less than 250k. 65% say he has a mandate to raise taxes on the wealthy while cutting spending. both elements are important. and when you ask about eliminating the bush tax cuts for people who make more than 250,000, 59% say he has a mandate to do that. so the president clearly has the whip hand in the negotiations,...
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joining us is betsy mccoy, they is author of decoding the obama health law. and she brought a huge big stack of pages you have read. >> yes, since that time the administration spewed forth 14,000 pages of additional regulations and they are just getting started. >> in terms of opting in or out of president's healthcare plan, only about half of the state or less than half the states are opting in. >> about 21 have opted out and a few are undecide fwecided but i clear that about half are not wanting to make their own exchanges. most don't know what an exchange is. most get health insurance at work and few plans through brokers. but this vision is a third way for those who are currently uninsured and for the millions of people who are about to lose their on the job coverage because their employer will say, oh, that government mandated health plan is too costly. those people will all have to go to the health insurance exchange in their state and enroll in the one size fits all government mandated plan. >> but is it kind of like car insurance where you can pick yo
joining us is betsy mccoy, they is author of decoding the obama health law. and she brought a huge big stack of pages you have read. >> yes, since that time the administration spewed forth 14,000 pages of additional regulations and they are just getting started. >> in terms of opting in or out of president's healthcare plan, only about half of the state or less than half the states are opting in. >> about 21 have opted out and a few are undecide fwecided but i clear that about...
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. >> people were supposed to hate them ahead of obama care. stocks doing well. what's coming up? >> i want to do disruptive companies and i watch "squawk." this company is one that has a stove you can put in a couple sticks of wood and starts and generates electricity. you can then charge your ipad, your iphone, you no longer have to be hostage to the grid and they did it -- it caught my eye during hurricane sandy. brooklyn company. the fire department use them. everyone is using them. >> you are doing more private companies with disruptive technology. >> i think that the exciting part of america is we have the world's greatest technology. i want to point it out. many companies are private. >> santelli has -- >> you have to be kidding. rick santelli here. welcome. my goodness. 74 74.5. i had to double-check that one many times. we're coming off numbers at 82.7 for number. 82.6 for october. those are close. the best numbers since the fall of '07. this 74.5 is a really big drop that takes you to the weakest numbers since august when we had a series of weaker numbers. now, whether s
. >> people were supposed to hate them ahead of obama care. stocks doing well. what's coming up? >> i want to do disruptive companies and i watch "squawk." this company is one that has a stove you can put in a couple sticks of wood and starts and generates electricity. you can then charge your ipad, your iphone, you no longer have to be hostage to the grid and they did it -- it caught my eye during hurricane sandy. brooklyn company. the fire department use them. everyone...
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Dec 10, 2012
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obama wants a 45% rate and $3.5 million cutoff. that's midway between today's rates and the old rate. now the problem is even some democrats are siding with republicans. they say they want to keep the current rates. so all sides here remain very far apart. this matters because wealthy families need to rewrite their wills, their charity plans. and for the country there are hundreds of billions of dollars of taxes at stake. it's also a hugely symbolic tax. the left says these estate taxes are important to curb family dynasties. and they also call it the paris hilton tax. the right says it's the death tax and says it hurts farmers and small businesses. the policy center says the top .1% pays half of the tax. farmers, well they account for only 1% of the tax. in reality it is a tax on the very wealthy. but both sides bill and mandy, digging in very hard. which means the debate over taxing the rich will not end even if we saw the income tax situation. >> stick around. we'd like to bring in a couple extra voices on this. while some are f
obama wants a 45% rate and $3.5 million cutoff. that's midway between today's rates and the old rate. now the problem is even some democrats are siding with republicans. they say they want to keep the current rates. so all sides here remain very far apart. this matters because wealthy families need to rewrite their wills, their charity plans. and for the country there are hundreds of billions of dollars of taxes at stake. it's also a hugely symbolic tax. the left says these estate taxes are...
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can president obama get anything done until he gets something, no? >> all the cuts that happened as a result of the fiscal cliff, all over the place. let's cut hundreds of billions in defense. it doesn't indicate what missions are going to be no longer what, programs we're going to kim. i mean, we really have to be stupid to be doing that. >> so irresponsible. >> not knowing where the cuts are hitting. >> right. >> for the security of this country. >> i agree. >> so, therefore, you're going to get some agreement. maybe it's january 5th, maybe it's december 30th, january 10th, but it will probably be a band-aid agreement. that's the problem. this isn't going to be one of these long-term deficit reduction, credible agreements that does tax reform, entitlement reform. >> that's for another day. >> that's for another day, so i don't think the markets are going to real that much, but i think it will prevent the fiscal cliff. >> always good to see you, larry. >> very good insights for next year. >> ten minutes before the closing pebble. a market that's low
can president obama get anything done until he gets something, no? >> all the cuts that happened as a result of the fiscal cliff, all over the place. let's cut hundreds of billions in defense. it doesn't indicate what missions are going to be no longer what, programs we're going to kim. i mean, we really have to be stupid to be doing that. >> so irresponsible. >> not knowing where the cuts are hitting. >> right. >> for the security of this country. >> i...
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>> i think we live under the obama presidency. historians are going to look back and say this president did these things. it's his opportunity to lead. it's his opportunity to seize the moment to fix the big entitlement programs, to be this transformative figture that he pledged to be four years ago. look, boehner said the day after the election, he wants the president to lead. now, it's pretty sad, though, that it comes to this. that we in congress are calling on the president to lead and actually try to do something. >> we're not talking about the big issues. all we're talking about is the tax hike which as i noted is a tiny percent of our fiscal problem. >> right. >> why not give into that so we can get to the big issues. >> why not actually talk about the 95%? and i would say that with all due respect to you as well. because all the questions i'm getting are about this tax question. boehner's already said he put revenue on the table. read the bob woodward book, the price of politics. it showed that boehner went much further th
>> i think we live under the obama presidency. historians are going to look back and say this president did these things. it's his opportunity to lead. it's his opportunity to seize the moment to fix the big entitlement programs, to be this transformative figture that he pledged to be four years ago. look, boehner said the day after the election, he wants the president to lead. now, it's pretty sad, though, that it comes to this. that we in congress are calling on the president to lead...
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president obama did not weigh in on the issue, but he was -- he did win re-election. if the president were to call you and say, ben, your country needs your continued stewardship at the federal reserve. we need you to stay and finish the job, see this through, would you consider it? would you do it, and by chance have you had any conversations to that effect with the president or anybody on his team? thank you. >> so to answer the last part, no, i haven't had any conversations. i think the president has got quite a few issues he needs to be thinking about from fiscal cliff to many other appointments and so on. from my own perspective i just -- i really don't have anything to add from the last press conference. i'm very much engaged in this difficult issue that we're discussing today, and i have not been spending time thinking about my own future, so i -- i don't really have anything to add there. >> okay. we'll go to kevin and then katherine and then back over here. >> over here, mr. chairman, thank you. two questions, taking the goldbarb rule into effect, one having
president obama did not weigh in on the issue, but he was -- he did win re-election. if the president were to call you and say, ben, your country needs your continued stewardship at the federal reserve. we need you to stay and finish the job, see this through, would you consider it? would you do it, and by chance have you had any conversations to that effect with the president or anybody on his team? thank you. >> so to answer the last part, no, i haven't had any conversations. i think...
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that and obama care, obama care just hit us by 19.5%. our medical costs are going up next year by 19.5%. so what can we do? we'll have to adjust our costs and get them in line. we compete in the worldwide economy, and our costs are going up. >> how much did that loss of the r & d tax credit cost your company as well? >> it cost us about 2.5%, 2% on the bottom line. >> and if the r & d tax credit does not come back, how many people might you have to let go next year? >> so what we have is we've got the 2%, 2.5% that we lost in the bottom line and obama care hitting us by 19.5%. our costs are going to go up 19.5% next year, so we believe, we'll probably have to cut two or three people just to overcome the extra cost that's going to hit our business in 2013 so we've got obama care going through. we're going to take on half that cost and pass half of that on to our employees. think about that. that means that our middle class employees are going to see that increase in their health care costs next year. >> right. >> howard dean was just on w
that and obama care, obama care just hit us by 19.5%. our medical costs are going up next year by 19.5%. so what can we do? we'll have to adjust our costs and get them in line. we compete in the worldwide economy, and our costs are going up. >> how much did that loss of the r & d tax credit cost your company as well? >> it cost us about 2.5%, 2% on the bottom line. >> and if the r & d tax credit does not come back, how many people might you have to let go next year?...
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do you believe john boehner and president obama this weekend had a serious discussion? where are we really in this compromise? >> well, i've learned a long time ago up here what you don't know sometimes can kill you. if you don't know anything, it means something is going on. i hope they had substantial negotiations. >> you have no idea if it's true. >> too many people negotiating is a bad thing. >> you can't have 500 people in a room negotiating, right? you have been pretty vocal over the debt ceiling debate. very soon after this fiscal cliff issue moves forward, we're going to be moving forward on the debt ceiling debate. you have said you do not agree with president obama that he basically wants to take this debt ceiling debate off the table and this no barriers. why? >> it's like taking the limits off a teenager daughter's credit card. if you don't have limits you're going to spend forever. if the president didn't have limits, didn't have to come to us, work out an agreement, spending goes on forever, debt and deficit, pretty soon -- >> play with people's lives ever
do you believe john boehner and president obama this weekend had a serious discussion? where are we really in this compromise? >> well, i've learned a long time ago up here what you don't know sometimes can kill you. if you don't know anything, it means something is going on. i hope they had substantial negotiations. >> you have no idea if it's true. >> too many people negotiating is a bad thing. >> you can't have 500 people in a room negotiating, right? you have been...
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leader nancy pelosi went down to the white house today for a one-on-one meeting with president barack obama. we don't know what they said, and we're in the era now of parsing every single word they do say publicly. nancy pelosi was out before cameras, although it's hard to get a lot of indication of what's going on with had statement. take a listen. >> the only obstacle standing in the way of middle income tax relief are the republicans unwillingness to ask the top 2% to pay their fair share. >> and if you listened carefully to speaker john boehner, he did say that there was no progress to report, but he may have been hinting a little bit of where there's some room for a deal here if the president will just meet him maybe not even halfway. listen to the speaker. >> there are a lot of things that are possible to put the revenue the president seeks on the table, but none of it's going to be possible. the president insists on his position, insists on my way or the highway. that's not the way to get to an agreement. >> so where are we now? i think we're basically at a point where speaker boehne
leader nancy pelosi went down to the white house today for a one-on-one meeting with president barack obama. we don't know what they said, and we're in the era now of parsing every single word they do say publicly. nancy pelosi was out before cameras, although it's hard to get a lot of indication of what's going on with had statement. take a listen. >> the only obstacle standing in the way of middle income tax relief are the republicans unwillingness to ask the top 2% to pay their fair...
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the gop is under extreme pressure since president obama is definitely going to be seeing a wealthy tax added to it. on the economic news, little light tomorrow with initial claims at about 390,000, but the big story is really friday as we look to the jobs report. we believe that the effect of the payroll will be at 50,000 range due to the effect of hurricane sandy which could put our unemployment up to an 8% rate. >> all right. we'll be watching that. thanks very much to you both. we appreciate it. of course we'll be looking at this market and whether or not it loses the steam come the big rally today. ticktock, ticktock on the fiscal cliff. my thoughts on the story from timothy geithner. guess what, folks. i think we're going over the cliff. back in a moment. are system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in nu
the gop is under extreme pressure since president obama is definitely going to be seeing a wealthy tax added to it. on the economic news, little light tomorrow with initial claims at about 390,000, but the big story is really friday as we look to the jobs report. we believe that the effect of the payroll will be at 50,000 range due to the effect of hurricane sandy which could put our unemployment up to an 8% rate. >> all right. we'll be watching that. thanks very much to you both. we...
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this is steeper than even president obama's proposal. obama, of course, wants the 45% rate but only applied to estates valued at 3.5 million or more. any cliff deal will have to include the estate tax, and that fight is just beginning. maria? >> amazing, another big fight over the estate tax. >> starting right now so a lot to look forward to. >> robert frank with the latest there. breaking news on mollycorp. over to you, brian. >> i followed this rare earth company for a couple of years and mark smith, the ceo and face of the company, no longer the ceo. i can tell you sources tell me, kind of a board decision as they say they are growing to an operational company. the company's also been investigated by the s.e.c. i'm ted the s.e.c. investigation does not have anything to do with this muff but a hi high-flyers. getting red pretty hard right now. still above $10. looked at his insider buying and selling. sold a lot last year and was in the process of buying some some of the shares this year. mark smith no longer the ceo and face of mcp. b
this is steeper than even president obama's proposal. obama, of course, wants the 45% rate but only applied to estates valued at 3.5 million or more. any cliff deal will have to include the estate tax, and that fight is just beginning. maria? >> amazing, another big fight over the estate tax. >> starting right now so a lot to look forward to. >> robert frank with the latest there. breaking news on mollycorp. over to you, brian. >> i followed this rare earth company for a...
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the obama administration had a pretty good proposal to crack down on this stuff back in 2009. never went any place. and that's not surprising given how much money is raised from google. >> what i would say is it is their fiduciary duty to pay a low tax rate. that's what the law says. that's what they have to do. i believe that's what they are doing in this case. >> you know, they talked in the past in washington about a moratorium of some kind to allow companies to repatuate the funds they have overseas. would that satisfy what you're talking about here? >> no -- we need real systemic reform. fiduciary responsibility. google has a brand as one of the good guys. if irt starts to tarnish that brand, that's bad for shareholders long-term. and i think this tarnishes its brand. >> what if we saw a lowering -- it's not on the table obviously. but in theory land, what if we saw a lowering of the corporate tax rate? would that bring an end to this? >> i don't know if it's necessarily a lowering of the actual rate. what is called for is simplifying the structure, letting people know wh
the obama administration had a pretty good proposal to crack down on this stuff back in 2009. never went any place. and that's not surprising given how much money is raised from google. >> what i would say is it is their fiduciary duty to pay a low tax rate. that's what the law says. that's what they have to do. i believe that's what they are doing in this case. >> you know, they talked in the past in washington about a moratorium of some kind to allow companies to repatuate the...
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1-800-345-2550 >>> china making its move to take over a company that has been a thorn in president obama ae side. a 123. it is a battery company. a chinese auto parts maker put in a winning bid for the beleaguered green giant. just fill us in on why it is so politically controversy, phil. >> a 123 received a loan by the department of energy, $249 million loan, plannedy. they say, you took that money in order to start up a business. that is a acceseparate question to now the chinese company bought it. the wanxiang group does a lot in the auto industry if n china. now they have an american division. the china plant, not any defense business, we will talk about that in just a bit. again, a123 did receive a $249 million lone from the u.s. government. what becomes of a123 now? essentially johnson controls within also bidding during the bankruptcy process for the battery part of the business dropped out. when they said, there bidding is too rich. we don't think the price matches the assets. they dropped out. a123 does have about 3,000 employees in the u.s. this has to be approved by the commit
1-800-345-2550 >>> china making its move to take over a company that has been a thorn in president obama ae side. a 123. it is a battery company. a chinese auto parts maker put in a winning bid for the beleaguered green giant. just fill us in on why it is so politically controversy, phil. >> a 123 received a loan by the department of energy, $249 million loan, plannedy. they say, you took that money in order to start up a business. that is a acceseparate question to now the...
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deloitte ceo was among the chief executives who met with president obama last week and called the conversations, quote, constructive. since then, not much progress has been made. we want to talk more about that exclusively. he's here with me to talk if he still feels that way about fiscal cliff. good to have you on the program. deloitte ceo. thanks so much for joining us. >> thanks for having me. >> i want to get to the president and your meeting and really zero in on the fiscal cliff. before we do that, i want to get to the situation around hewlett-packard and autonomy. of course, hp taking a massive write down on the acquisition of autonomy. ceo meg whitman throwing deloitte under the bus in some sense because the firm was among those charged with examining the books before the deal. what can you tell us about what you did in terms of overseeing the books at autonomy and what do you say now that she's charging this fraud? >> sure, maria. unfortunately for us, that matter has been turn the over to investigation and the authorities. believe it or not, that's one of the things i'm not on the hot
deloitte ceo was among the chief executives who met with president obama last week and called the conversations, quote, constructive. since then, not much progress has been made. we want to talk more about that exclusively. he's here with me to talk if he still feels that way about fiscal cliff. good to have you on the program. deloitte ceo. thanks so much for joining us. >> thanks for having me. >> i want to get to the president and your meeting and really zero in on the fiscal...
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barack obama went to a christmas party. he went past a group of reporters. he says it is a work in progress. that's about where we know. >> is it your impression, aemon, that the subject has grown darker with the prospect of a deal than it was 48 hours ago? >> we haven't seen any public evidence of the private negotiations since about tuesday when we saw offers and counter offers taking place behind the scenes. we have seen a hardening of the public rhetoric over the past couple of days here. you get the sense that people here in the capitol building are prepared to be here through christmas at this point. i talked to one member of congress who said, look, if they need me to, i will be here on christmas day. so i think people are bunkering in up here right now. at least atmospherically. that's where we're at. >> what are the hypothesis that both sides have some sort of incentive to take the country over the cliff even if only for a week or so. because on the gop side, they've said, we do 7b want it raise rates on anybody. on the president's side, he said, i
barack obama went to a christmas party. he went past a group of reporters. he says it is a work in progress. that's about where we know. >> is it your impression, aemon, that the subject has grown darker with the prospect of a deal than it was 48 hours ago? >> we haven't seen any public evidence of the private negotiations since about tuesday when we saw offers and counter offers taking place behind the scenes. we have seen a hardening of the public rhetoric over the past couple of...
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. >> business owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that view that they should give into what the president is suggesting, at least temporarily, and continue to negotiate on the rest because there's a lot of political pain here for republicans if we do get to the point where we go over the cliff because of those higher tax rate pateryers, guys. >> all right, eamon. thank you. >> the talk continues, but none of it face to face. be sure to catch a liv
. >> business owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer...
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speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. >> reporter: not surprisingly, democratic house leader nancy pelosi had precisely the opposite explanation for what is behind this stalemate. she says republicans simply echoing the white house are going to have to buckle on the issue of the top rates. >> the only obstacle standing in the way of middle income tax relief are the republicans unwillingness to ask the top 2% to pay their fair share. >> but tyler, as you suggested, this is all a work in progress. the thing we cannot see that is not visible to the public or to the press is what's going on behind the scenes. staff discussions resumed yesterday. don't know
speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. >>...
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president obama said that he is willing to sign it. so that would be one way to just sort of get some of this panic out of the way and let people deliberate and make some really good choices when we come back in january. >> i want to bottom line it very quickly with jared. i'm going to make you squirm, jared. >> god luck. >>maker the argument for going over it. you have to argue for it. go over the whole thing. what would it be? get our aaa back? >> that may be the only way we can get a responsible fiscal deal. and if that deal begins to take shape in late december, the only way to resolve the cliff may be to temporarily go over the cliff so that tax rates reset and we can get on a bitter fiscal trajectory, and -- and -- they can quickly, as nicole mentioned, reverse some worse effects of that. and in that sense, we've gone over it, but briefly. i'm not for it but that is a resolution that would really use the leverage, the dynamics that are in play right now to finally get us on a more sustainable fiscal path. >> it's not juvenile hal
president obama said that he is willing to sign it. so that would be one way to just sort of get some of this panic out of the way and let people deliberate and make some really good choices when we come back in january. >> i want to bottom line it very quickly with jared. i'm going to make you squirm, jared. >> god luck. >>maker the argument for going over it. you have to argue for it. go over the whole thing. what would it be? get our aaa back? >> that may be the only...
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. >>> also, the ceo of accounting giant recently met with president obama. he say miss other ceos in that meeting agreed the tax rates for the wealthy have to rise as part of any fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... i'm with scottrade. >>> one of the most bizarre man hunts in recent memory is coming to
. >>> also, the ceo of accounting giant recently met with president obama. he say miss other ceos in that meeting agreed the tax rates for the wealthy have to rise as part of any fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus...
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we were told that yesterday speaker boehner and president obama held a phone call, it was said to be about 20, 28 minutes in length but neither side has leaked what happened on that phone call. the house republicans are not leaking, the white house just within the past hour said it's not going to tell reporters what was discussed, that's probably an encouraging sign that negotiations are taking place. last week we saw that they had a proposal and immediately house republicans leaked the white house proposal and then republicans went out of their way to say they were laughing at that proposal, now they're not leaking, that's probably a sign of some real deal making but nonetheless harry reid the senate democratic leader was on the floor within the past hour or so and he kept the pressure up on republicans. take a listen. >> the plan for the republicans to face reality, there's enough writing on the wall. >> you get the sense here guys that democrats feel like they have the upper hand, there is some dealmaking behind the scenes. what that dealmaking is we don't yet know and when it cou
we were told that yesterday speaker boehner and president obama held a phone call, it was said to be about 20, 28 minutes in length but neither side has leaked what happened on that phone call. the house republicans are not leaking, the white house just within the past hour said it's not going to tell reporters what was discussed, that's probably an encouraging sign that negotiations are taking place. last week we saw that they had a proposal and immediately house republicans leaked the white...
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of obama to actually raise the taxes on top earners. >> i think a mandate do both. the fed -- a lot of people blame the fed for everything, seems a little ludicrous, what the fed is saying, listen, guys, compromise and if you don't, you got to expect stocks to go down. consumer confidence coming down, small business coming down, compromise or else here is the future. the future is lower stock market. >> right. >> so i think that there is a -- there is a very funny thing going on. we have rich people coming down to washington saying, listen, we will take our taxes but got to give a compromise. there's this curious where's tim geithner with specific doubts really get this thing going? what do they come up with? what did eamon javers come up with the other day? raise taxes a little less than you thought. he comes out and says, listen, medicare, make it this new able. we'd deal. but it's the president that is -- >> a deal if it gets done, how you get there is a question mark. does he finally need to know they are going to proceed to the increase in tax rates that he wan
of obama to actually raise the taxes on top earners. >> i think a mandate do both. the fed -- a lot of people blame the fed for everything, seems a little ludicrous, what the fed is saying, listen, guys, compromise and if you don't, you got to expect stocks to go down. consumer confidence coming down, small business coming down, compromise or else here is the future. the future is lower stock market. >> right. >> so i think that there is a -- there is a very funny thing going...
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we want to have obama care. we want to have universal coverage. tell me how we can do this in context of not making your businesses a nightmare. i wish that was the approach of the president. i remember when i went down two towns with bernanke. one was in south carolina and the other was dilapidated. i asked the mayors, they said we went to business and said, what do you need to make this right? and i wish the obama administration would -- >> indiana and illinois. >> the key thing for business competitivene competitiveness with regard to health care, it's the slowest on record. now, you could -- >> it's the recession. >> it could be. >> the slow growth -- >> that wouldn't explain all of it. it does feel like -- of course we need more data points. >> it sharply outpaces inflation. >> not in the last two years. >> it's come down. >> not if you are somebody who is at a small company who is -- >> business is -- the most important there is the growth in the cost of health care. if this is helping to bend the cost curve -- >> if you talk to small busine
we want to have obama care. we want to have universal coverage. tell me how we can do this in context of not making your businesses a nightmare. i wish that was the approach of the president. i remember when i went down two towns with bernanke. one was in south carolina and the other was dilapidated. i asked the mayors, they said we went to business and said, what do you need to make this right? and i wish the obama administration would -- >> indiana and illinois. >> the key thing...
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president obama addresses the business roundtable and that could be critical. david has an exclusive interview with ken moelis. back to you guys. >> let's get six in 60. six stocks in 60 seconds. >> yesterday's news overshadowed by many things. a fantastic quarter. we knew it would be household formation buying on weakness. >> 17 straight. number of quarters where they beat it. this was a major miss. >> rbc does not like clf. this is again china. i don't like it either but china is coming back. >> naz 100 taking on facebook. >> money is an index to the naz 100. people paid for this in premarket. it was a mistake. >> citi thinks limited can do a special div. >> limited has a lot of cash. gap said no yesterday. hurt the stock. >> goldman starts utx neutral. great company. a slap in the face, carl. boom. slap in the face. >> you got that right. what's on "mad" tonight? >> i have been featuring these investment -- look, the etf. i've been feeling they know america. i have to know how bad america is. they do the southeast. great company. >> we've not talked a lot ab
president obama addresses the business roundtable and that could be critical. david has an exclusive interview with ken moelis. back to you guys. >> let's get six in 60. six stocks in 60 seconds. >> yesterday's news overshadowed by many things. a fantastic quarter. we knew it would be household formation buying on weakness. >> 17 straight. number of quarters where they beat it. this was a major miss. >> rbc does not like clf. this is again china. i don't like it either...
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president obama, speaker boehner met face-to-face over the weekend to talk some fiscal cliff. our john harwood is live at the white house with more on that. john, good morning. >> good morning, carl. you know the president's been very clear since the election that republicans need to give on taxes for people at the top and not just on revenues, but also on tax rates because he says the math can't work otherwise. we've seen some signs of cracking in the republican unity. that suggests we may be getting to the next phase of negotiations. the latest sign was possible corker, the senator from tennessee, who was on our air just a few minutes ago, as you know, saying republicans should concede ground on top tax rates and then get on to other issues. >> the best place for republicans to be, to me, is to pass the rate of rate increases, be done with it, the numbers aprobably much smaller than is going to ultimately be negotiated, and then we still are focused on the right thing, which is entitlement changes. >> and that may be what john boehner and president obama are discussing yeste
president obama, speaker boehner met face-to-face over the weekend to talk some fiscal cliff. our john harwood is live at the white house with more on that. john, good morning. >> good morning, carl. you know the president's been very clear since the election that republicans need to give on taxes for people at the top and not just on revenues, but also on tax rates because he says the math can't work otherwise. we've seen some signs of cracking in the republican unity. that suggests we...